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PLN: Zloty Holds Stable, Updates On Budget Eyed This Week

PLN
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EUR/PLN is stable, trades marginally below the previous close, last at 4.2670. Familiar technical levels remain in play. Bears look for a move towards the 4.25 area and a cyclical low of 4.2471 in particular. Bulls are seeking recovery towards Aug 28/Sep 12 highs of 4.3039/43.

  • Finance Minister Andrzej Domanski flagged the need to amend the 2025 budget due to the need to mitigate the effects of recent floods. The government will meet to discuss the matter on Saturday.
  • Comments from MPC members have been converging around March as the potential starting point for a serious debate about cutting rates. Iwona Duda joined the ranks of policymakers signalling that loosening policy could be discussed at that point.
  • POLGB yields sit 2.9-6.6bp lower across the curve, with 8s outperforming. The WIG20 Index operates 0.9% above neutral levels.
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EUR/PLN is stable, trades marginally below the previous close, last at 4.2670. Familiar technical levels remain in play. Bears look for a move towards the 4.25 area and a cyclical low of 4.2471 in particular. Bulls are seeking recovery towards Aug 28/Sep 12 highs of 4.3039/43.

  • Finance Minister Andrzej Domanski flagged the need to amend the 2025 budget due to the need to mitigate the effects of recent floods. The government will meet to discuss the matter on Saturday.
  • Comments from MPC members have been converging around March as the potential starting point for a serious debate about cutting rates. Iwona Duda joined the ranks of policymakers signalling that loosening policy could be discussed at that point.
  • POLGB yields sit 2.9-6.6bp lower across the curve, with 8s outperforming. The WIG20 Index operates 0.9% above neutral levels.